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Average U.S. Gas Prices Inch Lower

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The national average for a gallon of gasoline has inched lower, falling a penny to $2.52/gallon while the average price for diesel also fell a penny to $2.93/gallon, according to GasBuddy, which surveys nearly 135,000 gas stations nationwide.

“Oil prices remain volatile yet several dollars off recent highs. Gasoline prices remain in somewhat of a limbo as a result, with a mixed bag at pumps across the United States,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Thus far, we have seen a market that’s lacked solid upward movement when it usually sees exactly that. This could lend weight to oil prices being too high, but at the same time, we continue to see if any major disruptions occur at U.S. refineries to offset any devaluation in the price of oil. So far the balance is in the middle, but threats remain in the months ahead- we’re still expecting a surge, so motorists aren’t off the hook by any means yet.”

Oil prices are up slightly versus last week with a barrel of West Texas Intermediate holding near $61.37 per barrel in early trade Monday morning. According to the U.S. Energy Information Administration, crude oil inventories rose 2.4 million barrels last week, yet declined past the 100 million barrel level versus a year ago. Gasoline inventories fell by 800,000 barrels, but are slightly higher than last year. As a result, oil prices and wholesale gasoline prices have been little changed in recent days. Data also showed refineries were still running at a seasonally brisk 88% of capacity. It’s likely in weeks ahead as additional refineries begin maintenance that utilization rates and gasoline production stumbles, which would then contribute to a gradual rise in retail gasoline prices.

Looking state-by-state, the largest weekly changes in average gas prices were seen in: Michigan (+7 cents), California (+4 cents), Kentucky (-4 cents), Indiana (+4 cents), Ohio (+4 cents), Florida (-4 cents), Georgia (-3 cents), Pennsylvania (-3 cents), West Virginia (-3 cents) and Colorado (-3 cents).

States with the lowest average gasoline prices: South Carolina ($2.24), Mississippi ($2.25), Alabama ($2.25), Missouri ($2.26), Arkansas ($2.27), Texas ($2.28), Tennessee ($2.29), Kentucky ($2.31), Louisiana ($2.31) and Oklahoma ($2.31).

States with the highest average gasoline prices: Hawaii ($3.44), California ($3.36), Alaska ($3.11), Washington ($2.98), Oregon ($2.88), Nevada ($2.84), Pennsylvania ($2.78), New York ($2.70) and Connecticut ($2.68).

GasBuddy is a smartphone app connecting drivers with their Perfect Pit Stop. GasBuddy is the leader in crowdsourced information to help drivers find the best gas prices, closest stations, friendliest service, cleanest restrooms, tastiest coffee and much more. GasBuddy is the leading source for the most accurate, real-time fuel prices at more than 140,000 gas stations in the U.S., Canada and Australia.